The lessons of student debt

Now, Warren is not the only person decrying this state of affairs: the spiralling cost of education provokes widespread alarm these days. But what is notable about Warren is that she is one of the few politicians who openly attacks the financial industry, US Treasury and Federal Reserve alike. This, of course, is the key reason she is unlikely to ever become a serious contender for the Democratic Party nomination: Warren’s outspoken comments have created many enemies in Washington and Wall Street. But her willingness to articulate unpleasant facts – such as the shocking explosion in student loans – is also a key reason she commands strong populist support in some quarters. Political giants such as Clinton ignore this at their peril; even (or especially) at a time when America is supposed to be enjoying an economic “recovery”.

Taxpayer subsidized student loans should be the exception rather than the rule.